Last year, Mexico surpassed China in exports of goods to the United States for the first time in more than two decades. The agency writes about this Associated press With reference to data from the US Department of Commerce.
While the value of goods imported by the United States from Mexico increased by approximately 5% compared to 2022, reaching over 475 billion dollars, the value of Chinese imports decreased by 20%, falling to 427 billion dollars.
The last year that Mexico surpassed China in exports to the United States was 2002. Since then, China has maintained the lead for more than 20 years.
The leadership change reflects rising tensions between Washington and Beijing. The USA has been imposing tariffs on Chinese goods since 2018, accusing China of violating WTO rules. In response, Biden urged companies to look to suppliers in friendly countries closer to home.
One of the beneficiaries of this trend is Mexico. But the picture is mixed: Some Chinese manufacturers have opened factories in Mexico to take advantage of the US-Mexico-Canada trade agreement.
Mexican President Lopez Obrador said that trade status gives his country a new advantage over the United States. Some industries, such as the automobile industry, also have factories on both sides of the border.
Expert Derek Scissors believes the decline in imports from China is partly due to trade concerns about the unpredictability of Xi Jinping’s policies. Overall, the U.S. trade deficit narrowed 10% last year to $1.06 trillion.
Before that, experts announced the consequences of the conflict between the USA and Iran.
Previous analysts came withHow to save the Chinese stock market.